Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1887-02-06

nVe, nefNous anu ponltlSc ID manner,
who would be literary recluse IL he
was no, by the force OF events an ener-
gctic, ambitious capitalist, laying tho
foundations for u vast fortune. II is
Alfred Sully. He is one OF the ablest
rs he is one Of the most reticent men in
the financial circles Of New York, and
avoids rather than seeks publicity. /
believe be il distant relative of Gene
raj Alfred Sully. He was born at Buff
falo, but after receiving a good AGA
demic education there he set out to try
his fortune in the West. In Cincinnati
he decided to study law, and was gradu-
ated from one Of It's law schools. Thence
he went to Davenport, Iowa, where
he commenced the practice Of law I'M
der the fIm-name of Brown & Sully,
which was later on changed to Brown,
Campbell & Sully, and was known a.
the leading law firm of the city. Here
he met Austin Corbin, now one of the
best-known railroad financiers in the
country, but who was then q banker at
Davenport. Mr.. Sully, after acquiring
considerable wealth from his law prac-
tice, came to New York in 1872. He
had such bent for literature that lie
now determined to follow the literary
calling; but, meeting Mr. Corbin, TINT
gentleman, knowing his business abil-
ity, rendered him the position of gene
raj manager of the Corbin Banking
Company, which was accepted.
sGoINa INTO RAILROADS.
"His first connection with railroads, -
said friend seated in a well-known
brokers' Office in the Mills building,
was i'll obtaining control of the Indiana
Bloomington and Western road. He
afterwards purchased the Ohio
Southern, of which he isstill president,
and all of the parties who originally
joined him in this enterprise nearly
doubled their money. His next scheme
was in the Central Iowa road, and he
made great deal of money in this rs
well as in other roads in Illinois.
His next move was to build the
Eastern Railroad of Long Island
He displayed great ability in this
enterprise. He travelled all along the
contemplated route, making eloquent
spceches-for he is good speaker-in
behalf OF the road and in soliciting n
subsidy from the residents who would
be benefited by its construction. His
energy and determination in pushing
this project alarmed Drexel, Morgan a
Co., and they offered to sell the Long
Island road, which would be injured by
the proposed new road, to him and
Austin Corbin jointly for a price APP
proximating 81, 500, 600. The contract
of purchase was Immediately signed
by Sully and Corbin, and they both, by
good financial management, reaped n
large fortune out of this purchase"
He was still unknown, however, to
the general public. 1t was not till his
comparatively recent coup in getting
control of the Reading railroad that he
became generally known, and this will
probably prove one of the greatest
financial achievements of his life. Both
he and Mr.. Corbin, in their statements
concerning that road, which, by the
way, has an income of S3S, 900, 600 per
annum, express the belief that the net
income by judicious economy can be so
increased that within two years the road
can be made to pay not only its fixed
charges, but dividend
THE FICHMOSD AND WEST POINT TRRMI-
NAL.
ono sooner had Alfred Sully," said
broker who knows him, succeeded
in putting the Reading on a sound basis
for reorganization than he looms MP
again rs the chief figure in reorganiz
ing the much-talked-of Richmond
Terminal, which has resulted in ac-
quiring for that company the control of
the Richmond and Dsnville, the East
Tennessee, Virginia and Georgia, and
many other desirable southern roads,
whereby the Richmond Terminal has
acquired the control of more miles of
road than is operated by either the
Pennsylvania or the New York Central
1t approximates seven thousand miles. 4"
He is president of the Richmond
Terminal and Ohio Southern Compa-
MES, and director in the Reading, In
diana, Bloomington and Western, Long
Island, and Central Iowa Still in the
prime of life, with doubtless many
years of financial success before him.
this lawyer, with literary tastes and ex-
ceptional commercial skill, is now esti-
mated to he worth $40, 900, 900. He is
not In the strict sense a Spectator /:
unlike Jacob Little, Daniel Drew.
Henry \. Smith, and some others
who trusted TO the treacherous
fluctuations of the market, Alfred
Sully has laid the foundations
of his fortune ON n firm grasp on
actual property and in controlling
promising railroads. He is one of the
most successful lawyer-financiers,
among whom are Franklin b. Gowen
and Chauncey NJ. Depew, but neither
of whom have any natural bent to-
wards finance, though both are I'M
questionably able men. Mr.. Sully
thoroughly understands finance and
railroad administration in all its phases.
/ make this public reference to him
because his own rcticence concerning
himself has made businessmen and
others curious to know about him, and
has given rise to general query:
"Who is Alfred Sully?"